India has emerged as a bright spot for global FMCG giants Nestle SA and Reckitt Benckiser, even as both companies navigate challenging conditions in other markets. Nestle’s Indian operations recorded its highest-ever quarterly sales, while Reckitt highlighted India as a “standout market,” though temporarily impacted by changes in the goods and services tax (GST).
On a post-earnings call, Nestle global CFO Anna Manz said, “Outside of China, we’ve got some really good momentum, thanks to investments in high-priority areas. This is visible in India, Malaysia, Indonesia, and Pakistan.” The Indian unit, which produces Maggi noodles and Purina pet food, reported a 10.8% year-on-year jump in domestic quarterly sales to ₹5,411 crore, driven by broad-based volume growth.
Globally, Nestle SA faced tougher conditions, with sales falling 1.9% year-on-year to $82.8 billion for the first nine months of 2025. Leadership changes, including the exit of chairman Paul Bulcke and two chief executives, and the announcement of 16,000 global job cuts, underscore the challenges abroad.
Meanwhile, Reckitt Benckiser described the September quarter in India as a “sell-out” period, though revenue growth was modestly affected by the GST rollout in September, which shifted some trade orders to the fourth quarter. Despite this, emerging markets delivered a 15.5% like-for-like net revenue growth, with India contributing to the continued broad-based growth, said Reckitt CEO Kris Licht. CFO Shannon Eisenhardt noted that India posted low single-digit growth in Q3 due to GST phasing, but emphasized that it is expected to normalize, with the country continuing to be a strong contributor.
Other major FMCG players, including Hindustan Unilever, Godrej Consumer Products, and Dabur, also flagged short-term GST-related disruptions in September, affecting sales and trade ordering patterns.
Licht added that India represents a long-term growth opportunity for Reckitt, highlighting the country’s sustained performance as a model for other emerging markets.
With robust domestic demand, targeted investments, and improving infrastructure, India is increasingly becoming a pillar of stability and growth for multinational FMCG companies navigating global uncertainties.